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Kumba Iron Ore cuts sales target

On bad weather, rail constraints.
Image: Bloomberg

Kumba Iron Ore lowered its 2021 sales forecast on Tuesday, as rail constraints and adverse weather at Saldanha Port in South Africa hampered the miner’s first-half trading.

The company cut its sales target by 1 million tonnes to 39 million tonnes-40 million tonnes, but retained its production forecast of 40 million tonnes-41 million tonnes as it worked on building up stock at the port.

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Now the Coal and Iron ore exporters are also impacted by government.

So when commodity prices go up, don’t bother, we have them but cannot deliver.

Seems that Coal and Iron ore needs to be transported to the port areas years in advance in order to cash in on the high cycle.

This country is seriously messed up.

How do you maintain that level of production? that’s easier said than done. Companies produce what is required by the market, “years in advance” wont work. You cant keep too much inventory in the system.

Good for South Africa, take your time Brazil.

The one part of the economy that can be relied on the most,
it does not get impacted by drought and sells a commodity in hard currency.

Even that is now impacted.

Seems that we need a private railway network and then a private port.

End of comments.

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